"Here is what you could expect to pay more for - and for how much more in comparison to August 2024 - the next time you need to restock your fridge, according to the latest data: Roasted coffee: 21.7% Uncooked beef steaks: 16.6% Eggs: 10.9% Apples: 9.6% Candy & chewing gum: 8.1% Bacon: 7.2% Noncarbonated juices & drinks: 7.1% Frozen fish & seafood: 6.7% Bananas: 6.6% Oranges: 5.2% Canned fruits: 4.3% Chicken: 4.2%"
"On top of food, prices for apparel, audio products, motor parts, furniture, and new cars all ticked up in August. The price of energy also saw a notable 0.7% increase. Depending on which city you reside in, the effects of inflation might be felt more. According to a September report by WalletHub, which compared 23 major Metropolitan areas, the three cities that have seen the most inflation are Tampa, Florida, San Diego, California, and Philadelphia."
"All the price increases have placed inflation far above the Federal Reserve's inflation target of 2%, which leaves the agency a tough choice to make amid a softening labor market. Jobless claims last week hit their highest level since October 2021, and recent data suggest virtually no net job growth so far this year."
Bureau of Labor Statistics data show broad-based price increases in August, with the "food at home" category recording its largest monthly gain since August 2022. Tariff-sensitive items led the surge, with roasted coffee up 21.7%, uncooked beef steaks 16.6%, and eggs 10.9% year-over-year. Prices also rose for apparel, audio products, motor parts, furniture, new cars, and energy (0.7% monthly). WalletHub identified Tampa, San Diego, and Philadelphia as the metropolitan areas with the most inflation. Overall inflation remains well above the Federal Reserve's 2% target, complicating policy choices amid weakening job growth and rising jobless claims.
Read at Business Insider
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